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The public
President Obama, bubbly in his reelection campaigning about a recovering U.S.
economy, isn’t as optimistic in private, telling a select few that it
will likely take up to two years for any recovery to click in.

A letter
provided to Washington Secrets from Obama to a long-unemployed Portland,
Maine carpenter pulls back the curtain of economic hope to reveal the truth
about the stagnant economy. “I won’t lie to you,” Obama
penned in hand to Charles Oliver in October. “It will probably take
another year or two to fully dig our way out of this hole.”

Oliver had
written the president in June to ask: “Are we as Americans going to be
alright?” Answered Obama, “Yes, we will be ok. Because America
has gotten through tough times before, and because of good people like
you.”

While happy for
the response, Oliver told us that he hasn’t seen any of the recovery
the president and media have been heralding. “He’s out
campaigning saying everything is coming up roses. He’s a lying
SOB,” Oliver said of Obama, who has tried to temper his hopefulness
with cautions that the recovery could hit speed bumps.

Surely, I can't
be the only one who believes it is better for all Americans to hear the
truth, so that we know exactly what we're dealing with (and how best to
address it)?

Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, published by Kaplan Publishing.